The equivilant to a child saying "Poopy!" A censored profanity, if you will. Though it is not a synonym for any words, it can be used as an exclamation or adjective - usually meaning something bad or insulting.
"You are a poofy!" exclaimed Kim to Alex after Alex said somethingannoying.
"Poofy! What will we do now Matt?" asked Shannon when she couldn't find their school project.
A name that may be given to someone (usually male) who has incredibly pointy nipples and has many tendencies that suggest homosexuality such as reading Grazia magazine or straightening their hair.
"Man have you seen that guy? He's a right Poofy McNipples"